What is the Old Mutual SuperFund Deferred Retirement?
Old Mutual SuperFund allows retired members to continue their membership even though they have retired from their employer. This means that you are no longer forced to retire from the Fund when you still have other sources of income and don’t need your retirement benefit yet. Old Mutual SuperFund Deferred Retirement provides you with the option to keep your retirement savings invested, protected and growing while you decide on a more appropriate time to access your retirement benefit.If you are an Old Mutual SuperFund member and you want to make use of the Old Mutual SuperFund Deferred Retirement facility, all you need to do is inform your employer, payroll administrator, or HR representative that you are choosing Deferred Retirement membership. From there, the process is easy, automatic and seamless. On retirement from your employer, the balance of your SuperFund retirement savings will be transferred to the Old Mutual SuperFund Deferred Retirement.
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- Get your retirement plan back on track. Postponing your retirement from Old Mutual SuperFund will give your savings the extra boost needed for a more comfortable retirement.
- You are not forced to take your retirement benefit. You can postpone the payment of your retirement benefit to when you want to and have considered all your options.
- You remain invested in a cost-effective solution. You benefit from low administration fees and institutional investment management fees.
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If you are an Old Mutual SuperFund member and you want to make use of the Old Mutual SuperFund Deferred Retirement facility, all you need to do is inform you employer, payroll administrator, or HR representative that you are choosing Deferred Retirement membership.
From there, the process is easy, automatic and seamless. On retirement from your employer, the balance of your SuperFund retirement savings will be transferred to the Old Mutual SuperFund Deferred Retirement facility where they will stay invested in the same SuperFund investment portfolio that they were in while you were an employee.
If you were invested in the Old Mutual SuperFund Customised Option you will have 60 days from the date you start your Old Mutual SuperFund Deferred Retirement membership to submit an Investment Change Form, informing us of your investment choice. If you don’t do this, your retirement savings will be switched to the Trustee elected default investment portfolio after 60 days. You can always switch out of this at a later stage. Download the Investment Change Form from the Forms page.
The Old Mutual SuperFund Deferred Retirement option offers you extensive investment choice, however it does not include all the investment portfolios offered under the Old Mutual SuperFund Customised Option. If you were invested in the Old Mutual SuperFund Customised Option you will have 60 days from the date you start your Old Mutual SuperFund Deferred Retirement membership to submit an Investment Change Form, informing us of your investment choice. If you don’t do this, your retirement savings will be switched to the Trustee elected default investment portfolio after 60 days. You can always switch out of this at a later stage. Download the Investment Change Form from the Forms and Downloads page.
The four investment packages available in Old Mutual SuperFund Deferred Retirement are:
- Trustee Choice Investment - A high-growth expectation, smoothed returns and an underlying 80% capital guarantee.
- Lifestage investment - A selection of smoothed or market-linked investments into which employees are automatically switched as they progress through life.
- Strategy investment package - A selection of Old Mutual managed investment funds that can be combined to suit an individual's investment strategy.
- Extended investment package - A wide selection of single and multi-managed investment funds are offered by a variety of investment managers including, but not limited to Old Mutual.
There is no minimum investment requirement to qualify for Old Mutual SuperFund Deferred Retirement or the investment portfolios that may be available to you. However, it is recommended that if you have a savings balance of R30 000 or less, you should invest in the Trustee Choice investment package as this will keep your fees to a minimum.
Old Mutual SuperFund Deferred Retirement does not allow any transfers or withdrawals of your savings. The only way to access your fund benefit is to retire from the fund.
There is no set date or age at which you need to retire from Old Mutual SuperFund Deferred Retirement.
When you decide to retire from the fund:
- If you are a member of Old Mutual SuperFund Pension Fund, you will need to buy a pension fund with at least two thirds of the benefit.
- If you are a member of Old Mutual SuperFund Provident Fund, you may use any portion of the benefit to buy a pension or you can withdraw the full benefit.
Read the Old Mutual SuperFund Retirement Guide for an explanation of your options when leaving your SuperFund participating employer due retirement.
If you a member:
Call 0860 38 88 73 for help making decisions
Call 0860 20 30 40 for service related queries
Call 0860 INVEST (468 378) for financial advice
For employers:
Call your Area Consultant for new investments or financial advice:
Gauteng: (011) 217 1000/1210
Pretoria: (012) 368 3540
Western Cape: (021) 509 9111 / 0741
KwaZulu-Natal: (031) 581 0600 / 0706
Eastern Cape: (041) 391 6300 / 6304
Bloemfontein: (051) 444 0831
Call 0860 00 90 07 for Payroll Data assistance
Call 0860 20 30 40 for service-related enquiries
For intermediaries:
Call your Area Consultant for new investments or accreditation
Gauteng: (011) 217 1000/1104
Pretoria: (012) 368 3540
Western Cape: (021) 509 9111 / 0700
KwaZulu-Natal: (031) 275 0600 / 0712
Eastern Cape: (041) 391 6300 / 6321
Bloemfontein: (051) 444 0831
Email our Service Centre
Call 0860 00 90 07 for Payroll Data assistance
Call 0860 20 30 40 for service-related enquiries